FERMAT Raises $17 Million in Series A

FERMAT Raises $17 Million in Series A

FERMAT, a San Francisco, CA-based startup revolutionizing personalized shopping experiences, raised $17 million in new financing, bringing its total funding raised to over $30 million.

Bain Capital Ventures (BCV) led the funding round, with participation from existing investors Greylock, QED Investors, and Courtside Ventures.

The financing will fuel growth for FERMAT's customers, including renowned social commerce brands and advertising agencies. FERMAT aims to enhance its platform and expand its capabilities for providing personalized shopping experiences.

Founded in November 2021 by Rishabh Jain and Shreyas Kumar, FERMAT empowers retailers to create unique, personalized shopping journeys for each customer. Utilizing AI and machine learning, FERMAT offers an end-to-end shopping experience from ad to sale, enhancing advertising performance for commerce brands. FERMAT’s easy-to-implement, no-code platform is powered by its proprietary commerce graph. This commerce graph, along with its testing and optimization platform, ushers in an era of fully personalized e-commerce journeys that increase brands’ advertising effectiveness. FERMAT's mission is to provide brands with technology that enables the lightning-fast creation of high-converting, dynamic shopping experiences.

Funding Details

Company: FERMAT COMMERCE, INC.

Raised: $17.0M

Round: Series A

Funding Month: March 2024

Lead Investors: Bain Capital Ventures (BCV)

Additional Investors: Greylock, QED Investors, and Courtside Ventures Lightspeed Venture Partners

Company Website: https://www.fermatcommerce.com/

Software Category: Ecommerce ML